China: Around The Nation

Chinese businessman deposits 2.5 tonnes of small coins at bank

Bank accepts boxes of cash, but says it may take a month to count it

PUBLISHED : Friday, 14 April, 2017, 3:38pm
UPDATED : Friday, 14 April, 2017, 7:08pm

A businessman from a rural county in China has deposited more than 50 boxes of small change worth more than 200,000 yuan at a local bank, a local newspaper has reported. Bianliang Evening News.

When Xiao Junqiang, from Tongxu county in Kaifeng prefecture, drove to the local rural credit cooperative on April 6, the bank manger was stunned to find that Xiao’s deposit was a carload of more than 50 boxes of Chinese banknotes and coins with face values ranging from five jiao (50 cents) to one yuan, the report said.

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Xiao, who owns a restaurant in the countryside, said the piles of change came from a debtor who worked in public transport and accumulated the cash over the year, according to the report.

Xiao took back more than 50 boxes from the debtor, with each box worth between 2,000 yuan and 5,000 yuan for a total about 229,300 yuan (US$30,300 HK$260,000), the report said.

The bank accepted the boxes of cash but told Xiao to it could take up to a month to count it. But even that estimate seems optimistic and progress has been slower than expected.

The seven bank staff have been counting wads a notes and coins whenever they are free as well as working an hour overtime, but still only counted about 80,000 yuan after a week, according to the report.

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The staff, whose finger tips are black from counting so many old notes and coins, estimate the consignment weighs about 2.5 tonnes.

“This deposit wasn’t easy. We will do our best to finish counting it all on time,” Li Chunhong, the bank’s director, was quoted as saying.